Sagimet Biosciences Inc. (NASDAQ:SGMT) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Sagimet Biosciences Inc. (NASDAQ:SGMT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several research analysts have recently commented on SGMT shares. HC Wainwright reiterated a "buy" rating and issued a $32.00 price objective on shares of Sagimet Biosciences in a report on Tuesday, March 11th. Oppenheimer began coverage on shares of Sagimet Biosciences in a research note on Friday, December 6th. They issued an "outperform" rating and a $30.00 target price on the stock.

Institutional Trading of Sagimet Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN purchased a new stake in Sagimet Biosciences during the 4th quarter valued at about $31,000. Jacksonville Wealth Management LLC purchased a new stake in shares of Sagimet Biosciences during the fourth quarter valued at approximately $45,000. Summit Financial Wealth Advisors LLC bought a new stake in shares of Sagimet Biosciences during the fourth quarter valued at approximately $61,000. Shay Capital LLC purchased a new position in Sagimet Biosciences in the 4th quarter worth approximately $87,000. Finally, American Century Companies Inc. bought a new position in Sagimet Biosciences in the 4th quarter valued at approximately $90,000. Hedge funds and other institutional investors own 87.86% of the company's stock.

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Sagimet Biosciences Price Performance

NASDAQ SGMT traded up $0.20 on Monday, reaching $4.05. 313,657 shares of the company's stock traded hands, compared to its average volume of 923,405. The stock has a market cap of $124.23 million, a PE ratio of -2.83 and a beta of 2.57. Sagimet Biosciences has a 12 month low of $2.39 and a 12 month high of $7.38. The stock has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $4.47.

Sagimet Biosciences (NASDAQ:SGMT - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.15. As a group, analysts anticipate that Sagimet Biosciences will post -1.6 EPS for the current year.

About Sagimet Biosciences

Sagimet Biosciences Inc, a clinical-stage biopharmaceutical company, develops therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional metabolic pathways in the United States. The company's lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.